Issue: 1242 Date: 6/12/2014
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Webster University to open downtown campus in Arcade Building

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The Arcade Building, 810 Olive St.

Webster University will be the anchor tenant of the Arcade Building at Ninth and Olive streets downtown, school officials said Tuesday.

Webster's new "Gateway Campus," which will include offices, 12 classrooms, a caf? art museum and small auditorium, will open with the Arcade in 2016.

The university, which will occupy 54,000 square feet in the building, has signed a 20-year lease, the terms of which were not immediately known.

Webster will locate its cybersecurity and undergraduate degree completion programs at the Arcade, according to a Webster University spokesman. Art classes could also be held in the building, he said.

"This expansion marks the next phase of our partnership with the city and those who live and work downtown," Elizabeth Stroble, Webster University president, said in a statement, adding that the Gateway Campus will also include classrooms currently housed in the Old Post Office, 815 Olive St., where graduate courses have been offered for nearly a decade. The university's lease in the Old Post Office expires in 2018, according to the university spokesman.

The building's developer is Minneapolis-based Dominium Development, which signed a purchase agreement in June 2013 to acquire the building for $9 million from the city of St. Louis' Land Clearance for Redevelopment Authority. A statement from Dominium and Webster said the renovations would now total $116 million.

The 18-story, 538,000-square-foot building will also include 282 artist lofts and market-rate apartments, according to Tuesday's statement. Dominium previously said two-thirds of the apartments would be affordable units with the rest as market-rate units.